In layoff info package, there is reference to a Retirement Bridge.
What do those who are eligible actually receive? Seems vague.
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I took this last year after 25 years of service. Bridge started exactly 1 year from when I would turn 55. Benefits - 1) Extra year of equity vesting, 2) Helathcare for the year, plus a second year when I turned 55. So 2 years of HC technically.
Posting is correct that this "benefit" is a big nothing.
For an employee eligible for retirement and eligible for the Retirement Bridge, who also gets forced out and their last day is not the last day of the month, the Retirement Bridge alters their last day to be at the end of the month. No extra pay, no extra vacation days. Whoo hoo
I know someone who qualifies. Trying to understand this benefit. Document says, "While on Retirement Bridge, no regular IBM salary or IBM retirement income will be paid."
Also says, "Employees may participate in income-producing activities...a bridge participant must notify their former manager, in writing, of any prospective employment."
Also, "...the employee agrees to retire at the end of the Bridge."
Does this mean some sort of payment during the Bridge?
This used to be a bridge to retirement offered via a leave of absence if you were within 12 months of retirement, when IBM RA’ed you. There can’t be that many folks who qualify for this anymore
It's a bridge to far
Probably the George Washington Bridge
It basically puts you into a holding pattern, like a LOA, so you can get any additional time to accrue equity vesting, benefits, etc. you would get upon retirement (if it's close, the bridges are time limited) but would not with an immediate dismissal. For most people, especially those at employee levels and in the US, there isn't much benefit at all.